The first week of October began on a positive note, with Bitcoin soaring to a new all-time high and creating an optimistic atmosphere in the market.
As enthusiasm grows across the cryptocurrency space, traders and investors are turning their attention to altcoins that might benefit from the uplifted market sentiment. Here are three noteworthy made-in-USA cryptocurrencies that are positioned for substantial gains this week.
Sponsored
Sponsored
ALEO
Aleo Network is a privacy-centric Layer-1 (L1) blockchain platform that enables developers to create scalable decentralized applications with enhanced privacy through zero-knowledge technology.
Its native token, ALEO, is one to monitor this week as the project experiences growth amid significant ecosystem advancements.
Paxos Labs and the Aleo Network Foundation have recently announced plans to introduce USAD, a U.S. dollar-pegged stablecoin utilizing Aleo’s ZK Layer-1 blockchain.
The stablecoin aims to maintain user privacy while attracting financial institutions. This news has ignited renewed interest in ALEO, particularly as the demand for privacy tokens rises.
As of now, the coin is trading at $0.4006, maintaining a position above its 20-day EMA, which provides dynamic support at $0.2643.
The 20-day EMA evaluates an asset’s price over the past 20 trading days, giving more emphasis to recent prices. Trading above this important moving average indicates strong bullish momentum, suggesting a potential sustained rally.
If this trend persists, ALEO could rise toward $0.4589.
Sponsored
Sponsored
However, if sentiment declines, the coin’s price may fall below $0.31.
Zebec Network (ZBCN)
ZBCN powers the decentralized infrastructure (DePIN) protocol Zebec. Its price has surged by 21% this past week, marking it as a noteworthy made-in-USA coin this week.
The rise is partially attributed to a recently issued rare no-action letter from the U.S. Securities and Exchange Commission (SEC), confirming that tokens distributed by the DePIN project DoubleZero are outside the jurisdiction of federal securities laws.
Sponsored
Sponsored
The SEC’s clarification has revived interest in DePIN tokens. Investors now perceive this as a green light for wider engagement in DePIN assets, boosting ZBCN’s demand over the past week.
Technical indicators corroborate the token’s bullish trend. On the daily chart, the readings from the token’s Moving Average Convergence Divergence (MACD) indicator show its MACD line (blue) above its signal line (orange).
This setup indicates a strong bullish trend confirming the current uptrend’s strength. If demand continues, ZBCN may surpass $0.004746.
Conversely, increased profit-taking could lead to a drop to $0.004168.
Sponsored
Sponsored
CELO
CELO, the native coin of the carbon-negative blockchain focused on promoting financial inclusion, is another made-in-USA coin to watch this week.
Its price has increased over 65% in the past week, driven by ecosystem advancements that have captured traders’ interest.
The recent rally comes in the wake of Celo’s announcement of the official launch of its Testnet at the Token2049 conference in Singapore on October 1, featuring Nightfall, a Layer 3 privacy and scalability solution aimed at improving transaction confidentiality throughout the Celo ecosystem.
If the excitement continues to fuel demand, CELO could rise towards $0.4904.
On the other hand, a decrease in demand or profit-taking could bring the token below $0.442.
